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Auction Results – May week 3

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A week of high volume is otherwise unexceptional, a disappointing clearance rate representing a low-point for 2018 so far. Of a sizeable 129 scheduled auctions, 80 results available.

These figures exceed those of the most recent weeks, which saw roughly 100 scheduled auctions and available results in the mid-60s. This week’s results more closely resemble those of late April, but unfortunately the clearance rate falls far short.

The results throughout May and late April never fell below the lacklustre low 60s, nor exceeded the moderately favourable high 60s – this week has done the former, with 43 homes selling for a 54% clearance rate.

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The high volume of properties on sale can only marginally make up for this unfortunate clearance rate, a middling $622,378 average selling price similarly unpersuasive.

The remaining piece of good news is that five properties exceeded $1 million-dollar selling prices, remarkable sales such as these elevating the week’s results.

Third-highest of these sales is 4 Talbot Street, in Erindale, a fully-renovated 1940s sandstone-fronted construction. Modern conveniences include a pool, security doors and solar panels, while Jarrah wood, Smeg stainless steel and crisp white walls and ceilings form a flawless union throughout.

Angelo Nickolas and Patrick Small of Harris Real Estate sold this home for $1,245,000.

Angelo has been noted by SA Real Estate News for his implementation of social media, and spoke to the site about the techniques he employs to achieve sales such as this late last year.

17 Arnold Street, in Underdale, is the second-highest sale of the week. Where the previous home renovated its 1940s elements, this 2001-built home targeted a 1950s style.

Intricate details such as architraves and polished flooring, as well as five bedrooms and a leisurely pool house fill the generous allotment.

Brett Pilgrim and Jed Redden of Ray White Real Estate fetched a $1,315,000 selling price – achieving staggering property sales throughout 2017 and clearly continuing the trend, Brett spoke on his approach to real estate late last year.

Finally, the most lucrative sale of the week was that of 479 Henley Beach Road, in Lockleys, Laz Ouslinis of Ous Property acquiring an immense $1,550,000 selling price.

More distinctly modern than the previous homes, this property boasts River Torrens proximity, alfresco area adjoining pool and spa, as well as open-plan living and adorned with contemporary luxuries.

Sales such as these are gleaming lights on a dark plain, many homes on the market going unsold this week. Most of all, these results indicate that Adelaide’s current market cannot seem to sustain high volumes without jeopardising its clearance rate, as it did in 2017 – not a failure, just the absence of last year’s surging success.

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